McqMate
| Q. |
'Take-off stage' in an economy means - |
| A. | Steady growth begins. |
| B. | Economy is stagnant. |
| C. | Economy is about to collapse. |
| D. | All controls are removed. |
| Answer» A. Steady growth begins. | |
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Explanation: Rostow's 'Stages of Economic Growth' (1960) presented five stages through which all countries must pass to become developed: 1) traditional society, 2) preconditions to take-off, 3) take-off, 4) drive to maturity, and 5) age of high mass consumption. Take-off is the short period of intensive growth, in which industrialization begins to occur, and workers and institutions become concentrated around a new industry. |
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